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Key Points
- The NBA legend’s fortune has grown by $200 million since January, driven by diverse investments in sports, insurance, and consumer businesses.
- His 60% stake in EquiTrust Life Insurance, managing $17 billion in assets, has been a key driver of his recent wealth surge.
- He regrets declining Nike stock early in his career—shares that could be worth $5 billion today—but remains among the NBA’s wealthiest figures.
Magic Johnson’s financial empire continues to soar, with the basketball legend adding another $200 million to his net worth since the start of 2025. The surge cements his position among the world’s billionaires, with his fortune now standing at $1.6 billion, up from $1.4 billion on Jan. 1, according to Forbes. This marks a $400-million increase over the past year, driven by a diverse investment portfolio spanning sports, insurance, and consumer-facing businesses.
Magic Johnson’s business portfolio grows
Johnson, a five-time NBA champion and Hall of Famer, has leveraged his influence and business acumen to build an empire beyond the court. His ownership stakes in three Los Angeles-based sports franchises—including a share in Major League Baseball’s Los Angeles Dodgers—have played a crucial role in his wealth accumulation. He is also a co-owner of Major League Soccer’s Los Angeles Football Club (LAFC), which competes in the Western Conference and has rapidly grown into one of the league’s most valuable teams.
Yet, Johnson’s financial prowess extends well beyond sports. In 2015, his firm, Magic Johnson Enterprises, acquired a controlling 60 percent stake in EquiTrust Life Insurance, a Chicago-based company managing $17 billion in annuities and life insurance. The investment has proved to be a key driver of his recent wealth surge, underscoring his ability to identify lucrative opportunities outside traditional sports investments.
Johnson’s billionaire journey despite missed chances
Beyond insurance and sports, Johnson has amassed a diverse portfolio that includes stakes in Starbucks franchises, Burger King outlets, 24-Hour Fitness centers, and a soda bottling plant on the East Coast. His business footprint once extended into the movie theater industry, reinforcing his reputation as a multi-platform media mogul.
Reflecting on his rise to billionaire status, Johnson acknowledges past missteps, including turning down an offer of shares from Nike during his early NBA career. “My family didn’t come from money, that’s one thing that hurt us sometimes,” he said. “So I passed on the stocks. Can you imagine? 45 years, $5 billion that stock would have been worth today.”
Despite the missed opportunity, Johnson’s financial trajectory remains one of the most impressive among former professional athletes. His latest wealth surge places him 2,003rd on the Forbes billionaires list, reinforcing his status among NBA legends who have built billion-dollar fortunes off the court.
